Advisor accused of bilking NBA legend could face 20 years in jail

Former RIA Charles Augustus Banks IV has been indicted on two counts of criminal wire fraud for allegedly bilking legendary San Antonio Spurs power forward Tim Duncan out of at least $7.5 million.

Banks, 48, who maintains his innocence, could face 20 years in prison if convicted. The owner of vineyards around the world, Banks turned himself in to the FBI in San Antonio, Texas, on Sept. 9 before appearing handcuffed at federal court there. He is free on $1 million bail after posting a $50,000 bond. The SEC has filed a parallel case against Banks.